Aerial View of Panama City, on the Calidonia area.

Calidonia Attracting Long-Term Property Investment In Panama

The Last Bargain Buy In The Panama City Market
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Undervalued property in central Panama City is hard to find these days. From the oceanfront skyscrapers to the historic old town’s rehabilitated colonial structures—there isn’t much left for bargain hunters in this booming city.With GDP growth rates reaching double digits several times in the past decade, Panama’s economy—and its property market—remained relatively unscathed during the global recession. And with sustained GDP growth rates of about 6% expected through at least 2020, it comes as no surprise that Panama City’s property market continues to experience high demand.

It also comes as no surprise that many of these high-demand properties are selling for US$3,000 per square meter and higher. The old town of Casco Viejo, which is designated as a UNESCO World Heritage Site, is in especially high demand, with prices as high as US$5,000 per square meter. Apparently, you just can’t build centuries-old colonial buildings like you can Continue reading

Rent-free retirement

Rent-Free Retirement

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Buying real estate overseas is fundamentally about diversification. This is true whether you buy for investment or for retirement and argues in favor of buying for retirement rather than renting. Buying your new retirement residence overseas means moving money out of the United States and putting it into another market and, potentially, another currency.

Moving all your money out of the States and into a new retirement residence overseas doesn’t alone bring you the diversification you should be seeking right now. However, using some of your capital to purchase a retirement residence in the place where you want to live and putting other of your capital to work in another market (that perhaps uses a different currency) gets you not only diversification but also what amounts to a rent-free retirement.

Another advantage of buying your retirement residence overseas rather than renting it is that it helps you to “take the plunge.” It allows you to move your life forward, unequivocally, embracing the new adventure. Many who rent before they buy do so to be able to maintain a property back home, “just in case.” While this can be sensible, it’s also an anchor, a drag. It can divide your attention and keep you looking backward instead of ahead to your new life. Keeping one foot on the pier and the other on the departing boat can land you in the drink. You may remain only partially committed, which will be a handicap.

The bottom line for the retiree-buyer is to follow your instincts, not only with regards to what to buy overseas but also when answering the question, should you buy at all? You know yourself, your motivations and preferences, and how well you’ve researched your chosen destination. You know your level of commitment, your level of readiness, and Continue reading